More than shopping nudges, e-commerce dark patterns are the deceptive and misleading tricks that pressure us into a purchase.
Economics can explain why Olympic bronze medal winners seem happy while the athletes who won a silver medal might not look as pleased.
Our economic news summary includes labor regulation and Uber, the GDP and streets, gasoline price fluctuation, food and inequality and markets and syrup.
Gasoline prices rise faster than they fall because monopolistic competition provides retailers with some price control although their product is identical.
Through a behavioral economics lens, our reaction to a price relates to a frame or reference point that creates an association with a gain or a loss.
In a study of the Barcelona Olympics, researchers concluded that winners of the bronze medal tended to be happier than the athletes who got the silver. Please look at the expressions (below) of the Olympic medal winners for the 200-meter individual medley at Beijing…
After reading Murder at the Margin, some of my students suggested in essays that we do not need a psychiatrist to explain human behavior. Instead, just ask a behavioral economist. Let’s give it a try… Defaulting: In life, we tend…